Asia Key to Recovery of Containerized Trade

Sunday, May 23, 2010

Asian economies are leading the recovery of international container trade volumes, but strong growth across the region could see pre-recession pressure on freight infrastructure re-emerge, a senior executive of container shipping line APL told a conference in Ho Chi Minh City on May 20.

“Intra-Asia is already the world’s single largest container trade,” Jason Wong, Vice President of APL’s Intra Asia trade, told the 8th ASEAN Ports & Shipping Conference. “This will continue over the long term as Asian consumer markets develop.”

By 2015, Intra Asia will contribute 32% of global containerised trade, with the Asia-U.S. and Asia-Europe trades 17% and 18% respectively, according to analyst Global Insight.

Wong said that along with China and India, South East Asian economies such as Vietnam and Indonesia had shown resilience to the global crisis and had continued to grow in 2010.

More transportation services will be required to support the growth of freight moving within Asia, according to Wong, who identified North Asia to South East Asia as a high potential trade. To serve this market, he said, APL launched the Japan Thailand Vietnam and Korea China Straits services in 2009.

Wong said freight infrastructure development must be a top priority across Asia to optimise trade flows and maximise economic growth.

He highlighted Vietnam’s progress in developing world-class freight handling facilities – particularly those in and around Ho Chi Minh City ¬– such as Vietnam International Container Terminal (VICT), and new deepwater terminals such as Saigon Port-PSA (SP-PSA). It was from the SP-PSA terminal that APL launched the industry’s first direct container shipping service between Vietnam and the US in 2009.

“These facilities will help place Vietnam alongside the top trading nations,” concluded Wong.
APL and its parent company, Neptune Orient Lines (NOL), have had a long association with Vietnam. APL-NOL became the first Singapore-based transportation and logistics company to establish wholly owned operations in Vietnam on 1 January 2007. NOL is also the major investor in the Vietnam International Container Terminal (VICT), which became the country's first purpose-built container handling facility when it commenced operations in 1998.
 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Container Ships

Rates Increase Boosts Diana Containerships Q3 Income

Diana Containerships Inc. reported net income of $1.4 million for the third quarter of 2014, compared to a net loss of $0.7 million for the respective period of 2013.

EU Backs Nantes St-Nazaire and Vigo Transport Link

The EU's TEN-T Program will back the upgrade of the existing sea line between Nantes St-Nazaire, France and Vigo, Spain with over €3.5 million to ensure reliable

Egypt Eyes Suez Container Port Renegotiation

Egypt is trying to renegotiate an extension of an agreement worth $1.5 billion with Suez Canal Container Terminal which has a concession to run a port near the entrance to the canal,

News

Rates Increase Boosts Diana Containerships Q3 Income

Diana Containerships Inc. reported net income of $1.4 million for the third quarter of 2014, compared to a net loss of $0.7 million for the respective period of 2013.

Belgian Port Workers Strike

Port workers in Belgium began a 24-hour strike today, November 24, which will end at midnight, Inchcape Shipping Services (ISS) reported. It is anticipated that

EU Backs Nantes St-Nazaire and Vigo Transport Link

The EU's TEN-T Program will back the upgrade of the existing sea line between Nantes St-Nazaire, France and Vigo, Spain with over €3.5 million to ensure reliable

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1398 sec (7 req/sec)